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Monday, December 29, 2014

Has End of the Year Strength Begun on Victoria Oil and Gas?

Victoria Oil and Gas shares (LSE:VOG) have begun
going upwards in what can be called the end of the year rally. The recent bias
was bearish and price dived further downwards this month before further bearish
movement was rejected. Since then, the price has moved upwards seriously, with
an up-gap that pushed the price higher.

The ADX period 14 is not very high, meaning that
there is still much room for the current buying pressure to move on. The DM+ is
above the DM-, which means the bias is bullish. The MACD (default parameters)
has its histogram above the zero line. With a continuation of the current price
condition, the MACD signal lines would also cross the zero line to the upside.
This would result in a Bullish Confirmation Pattern, and thus, price would end
up reaching the supply level at 80.00.

We have a bullish outlook on Victoria Oil and Gas. Strategies
use historical information to generate signals; plus price conditions are not
stable. Short-term predictions may tend to be inaccurate, but over the long term,
good gains can be made. As a result of
this, serious speculators spend much energy and resources to lessen their trading
errors. Trading truth is simpler than you think.

This forecast is ended by the quote below:

“Traders
have to make financial decisions under conditions of uncertainty and be able to
cope with the results of their outcomes.” - Steve Ward